Skandia Restaurants Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI007935

SKANDIA RESTAURANTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2025

SKANDIA RESTAURANTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Tangible assets	5	154,682	171,772
Investments	6	1,101	1,101
		---------	---------
		155,783	172,873

CURRENT ASSETS

Stocks		16,293	16,293
Debtors	7	15,651	23,574
Cash at bank and in hand		341,848	365,506
		---------	---------
		373,792	405,373

CREDITORS: amounts falling due within one year	8	322,333		347,458
		---------		---------
NET CURRENT ASSETS			51,459	57,915
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			207,242	230,788

CREDITORS: amounts falling due after more than one year	9	27,789	52,685
		---------	---------
NET ASSETS		179,453	178,103
		---------	---------

CAPITAL AND RESERVES

Called up share capital	10	805,000	805,000
Profit and loss account	11	( 625,547)	( 626,897)
		---------	---------
SHAREHOLDERS FUNDS		179,453	178,103
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SKANDIA RESTAURANTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Mr J Davis

Director

Company registration number: NI007935

SKANDIA RESTAURANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors have prepared management accounts post year end. On the basis of their anticipations concerning cash flow and discussions with the company's bankers, they consider that the company will continue to operate within the facility currently agreed. In addition the directors have confirmed that it is their intention to continue to provide financial support to the company to enable it to discharge its liabilities in the foreseeable future and in particular for the next twelve months. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Adaption of premises	-	Over the remaining period of the lease
Plant and machinery	-	Over 3 to 10 years
Fixtures and fittings	-	Over 3 to 10 years
Equipment	-	`Over 3 to 10 years`

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in subsidiaries are stated at cost less provision for any permanent diminution in value.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 79 (2024: 77 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 February 2024	243,858	163,234	535,805	328,449	1,271,346
Additions	–	–	4,063	13,606	17,669
	---------	---------	---------	---------	------------
At 31 January 2025	243,858	163,234	539,868	342,055	1,289,015
	---------	---------	---------	---------	------------
Depreciation
At 1 February 2024	225,739	157,996	433,712	282,127	1,099,574
Charge for the year	5,289	2,034	18,241	9,195	34,759
	---------	---------	---------	---------	------------
At 31 January 2025	231,028	160,030	451,953	291,322	1,134,333
	---------	---------	---------	---------	------------
Carrying amount
At 31 January 2025	12,830	3,204	87,915	50,733	154,682
	---------	---------	---------	---------	------------
At 31 January 2024	18,119	5,238	102,093	46,322	171,772
	---------	---------	---------	---------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 February 2024 and 31 January 2025	1,101
	-------
Impairment
At 1 February 2024 and 31 January 2025	–
	-------

Carrying amount
At 31 January 2025	1,101
	-------
At 31 January 2024	1,101
	-------

	2025	2024
	£	£
100 ordinary shares in Neill's Hill Restaurant Limited	100	100
999 ordinary shares in Restaurant New Orleans Limited	999	999
1 ordinary share in Actons Restaurant Limited	1	1
1 ordinary share in Aldens Restaurant Limited	1	1
	-------	-------
	1,101	1,101
	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	996	416
Prepayments and accrued income	12,695	22,498
Other debtors	1,960	660
	--------	--------
	15,651	23,574
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	28,642	26,171
Trade creditors	147,602	164,849
Accruals and deferred income	7,913	30,934
Social security and other taxes	126,586	120,849
Other creditors	11,590	4,655
	---------	---------
	322,333	347,458
	---------	---------

The bank loans and overdrafts are secured by a letter of guarantee from two of the directors.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	8,334	33,333
Other creditors	19,455	19,352
	--------	--------
	27,789	52,685
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	805,000	805,000	805,000	805,000
	---------	---------	---------	---------

11. Reserves

The profit and loss account reserve records retained earnings and accumulated losses.

12. Contingencies

The company had no contingent liabilities at either year end.

13. Directors' advances, credits and guarantees

The company was under the control of the Davis family throughout the current and previous year. During the year, the company advanced net loans of £103 to the directors (2024: £777). At balance sheet date, loans remain outstanding to the directors of £19,455 (2024: £19,352). This loan is included in Creditors greater than 1 year.

14. Related party transactions

The company was under the joint control of Mr A Davis and Mr J Davis throughout the current and previous year. There were no transactions with related parties that require disclosure under FRS 102.